Business Plan Template
Stage 2
New Business Track
This template is for schools who are starting a business for the first time
IMPORTANT: HOW TO COMPLETE AND SUBMIT YOUR BUSINESS PLAN
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This template should be completed by students with the support of teachers.
Please use the format provided as this is aligned to our marking scheme.
There are 2 Parts to the Business Plan template.
- Part 1: Business Plan. Please answer ALL questions.
- Part 2: Financial Plan. Please answer ALL questions in Sections A-F. Section G and H are
optional.
You can use add extra pages to this document. However, please try and keep your submission
to 10 pages maximum.
The numbers in brackets e.g. (10) indicates the highest number of points that can be awarded
for that question.
Follow our top tips to score high points and increase your chances of winning a prize!
You can also earn bonus points by including supporting documents in the Appendix!
When you are ready to submit your completed business plan to us, please follow these
instructions:- Log in to your account at: www.schoolenterprisechallenge.org/login
- Go to the ‘Progress Report’ on the right hand side.
- Click on 2) ‘Submit Your Business Plan!’
- Choose Contact
your filethe
andSchool
uploadEnterprise
your completed
Template.
Click SUBMIT!
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team at:-
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New Business Plan Template 2015
Website: www.schoolenterprisechallenge.org
PART ONE
Section A: Your Details
School name
Country
Lead teacher
OGBADIBO MODEL COLLEGE
NIGERIA
ABUTU MARY
Section B: Your Business Details
Business Name
Business Activity
Main product / service
No. of students in business team
No. of students in school
Total Start Up Budget in US $ (Estimated)
Total Sales Income in US $ (Estimated)
Net Profit in US $ (Estimated)
OGBADIBO MODEL BIZ
CRAFT/SALES OF PRODUCTS
CASHEW NUT/PALM KARNEL OIL PRODUCT
100
300
600
1260
660
Section C: Market Research and Target Market
1.
What Market Research did you do? We used the survey and discussion method of market research.
We spoke to 40 persons of various ages, we use the percentage method to analyse our data for
effective result. The breakdown is as shown on the market research result is as displayed bellow:(5)
MARKET RESEARCH SURVEY TEMPLATE
Total number of sample population is 40.
Between the ages of;
11-21 = 10 in number
22-34 =10 in number
35 -50 = 20 in number.
Ages from 22 to 50 are the major focus group.
The following questions were administered using a questionnaire and the answers are
as tabulated bellow. The percentage ( %) method was used for data analysis.
QUESTIONS
1: Do you buy fried Cashew nuts and Palm Kernel oil?
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ANSWERS/%
AGES
11-21
22-34
35=50
TOTAL %
YES
%
NO
%
3
9
18
30
30
90
90
70
7
1
2
10
70
10
10
30
2: How often do you buy fried cashew nuts and kernel oil?
ANSWER/% ONCE %
A DAY
AGES
11-21
22-34
34-50
TOTAL %
2
20
2
20
ONCE
A
WEEK
%
3
30
3
ONCE A %
MONTH
1
1
2
30
10
5
7.5
ALWAYS %
I
%
DON’T
BUY
7
50 1
60 2
55 10
5
12
17
3: When do you buy fried cashew nuts and kernel oil?
ANSWERS/% ALL YEAR
ROUND
AGES
11-21
22-34
35-50
TOTAL %
2
7
16
25
%
AT
%
APARTICULAR
TIME
I DON’T
BUY
%
20
70
80
56.67
1
2
2
5
7
1
2
10
70
10
10
30
10
20
10
13.33
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70
10
10
30
4: Which factors are most important to you when choosing a product?
ANSWERS/% LOW
PRICE
AGES
11-21
1
22-34
1
35-50
2
TOTAL %
4
%
GOOD
%
QUALITY
EASY
%
ACCESS
NONE
%
10
10
10
10
1
7
15
23
1
1
1
3
7
1
2
10
70
10
10
30
10
70
75
51.67
10
10
5
8.33
5: How much do you currently pay for the products?
Answer: Based on discussion, most of the respondents said they pay for the product as
follows;
Cashew nuts are $1 US dollar per packet.
Kernel oil is $4 US dollar per liter.
6: What ways could your current supplier improve the product?
Answer: Based on discussion, most of the respondents answered thus;
By producing undiluted kernel oil.
By processing and presenting clean fried cashew nuts.
7: Would you buy/ use fried cashew nuts and kernel oil from our school?
ANSWERS/% YES
%
NO
%
NOT
DECIDED
%
AGES
11-21
22-34
35-50
TOTAL %
30
70
75
58.35
5
1
2
8
50
10
10
23.33
2
2
3
7
20
20
15
18.33
3
7
15
25
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2.
What were the results of your Market research? From question 1, 90% of the respondent said they do
patronize our type of products. However, 58.8% representing 25 people from sample population said
they will buy the products if they are of a good quality, and at affordable prices. (10)
The result of the market research is as displayed bellow:
MARKET RESEARCH SURVEY TEMPLATE
Total number of sample population is 40.
Between the ages of;
11-21 = 10 in number
22-34 =10 in number
35 -50 = 20 in number.
Ages from 22 to 50 are the major focus group.
The following questions were administered using a questionnaire and the answers are
as tabulated bellow. The percentage ( %) method was used for data analysis.
QUESTIONS
1: Do you buy fried Cashew nuts and Palm Kernel oil?
ANSWERS/%
AGES
11-21
22-34
35=50
TOTAL %
YES
%
NO
%
3
9
18
30
30
90
90
70
7
1
2
10
70
10
10
30
2: How often do you buy fried cashew nuts and kernel oil?
ANSWER/% ONCE %
A DAY
ONCE
A
%
ONCE A %
MONTH
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ALWAYS %
I
%
DON’T
WEEK
AGES
11-21
22-34
34-50
TOTAL %
3
2
20
2
20
BUY
30
3
1
1
2
30
10
5
7.5
7
50 1
60 2
55 10
5
12
17
70
10
10
30
3: When do you buy fried cashew nuts and kernel oil?
ANSWERS/% ALL YEAR
ROUND
AGES
11-21
22-34
35-50
TOTAL %
2
7
16
25
%
AT
%
APARTICULAR
TIME
I DON’T
BUY
%
20
70
80
56.67
1
2
2
5
7
1
2
10
70
10
10
30
10
20
10
13.33
4: Which factors are most important to you when choosing a product?
ANSWERS/% LOW
PRICE
AGES
11-21
1
22-34
1
35-50
2
TOTAL %
4
%
GOOD
%
QUALITY
EASY
%
ACCESS
NONE
%
10
10
10
10
1
7
15
23
1
1
1
3
7
1
2
10
70
10
10
30
10
70
75
51.67
10
10
5
8.33
5: How much do you currently pay for the products?
Answer: Based on discussion, most of the respondents said they pay for the product as
follows;
Cashew nuts are $1 US dollar per packet.
Kernel oil is $4 US dollar per liter.
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6: What ways could your current supplier improve the product?
Answer: Based on discussion, most of the respondents answered thus;
By producing undiluted kernel oil.
By processing and presenting clean fried cashew nuts.
7: Would you buy/ use fried cashew nuts and kernel oil from our school?
ANSWERS/% YES
%
NO
%
NOT
DECIDED
%
AGES
11-21
22-34
35-50
TOTAL %
30
70
75
58.35
5
1
2
8
50
10
10
23.33
2
2
3
7
20
20
15
18.33
3
7
15
25
Section D: Competitors and Competitive Advantage
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TOP TIP!
To help you score high marks in Section D, read our Competitor Analysis guidance in Weekly Guide 5 and in
the ‘Resources’ section of your school profile!
3.
Who are your main competitors and what are their strengths and weaknesses? Please fill in the table
below. You may add extra rows if you need to. (5)
Competitor Name
Strengths
Weaknesses
Who are your main
competitors?
What are your competitor’s main
strengths?
What are your competitor’s main
weaknesses?
Police women
association
Good reputation
Poor advertising and unskilled
packaging.
There products have no labels or
brand names.
Poor quality control system
If you have more detailed information about your competitors, please include it here:
4.
How are you going to be better than your competitors? We have decided to operate a retail/ whole
sale delivery system, with the intent of aggressive advertising and marketing of our products. We
also decided to use the names “MODEL CASHEWS” and “MODEL KERNEL OIL “for branding and
packaging of our products. Based on our market research, we guarantee our customers the best
quality than can be obtained locally from the village market. (5)
Section E: SWOT Analysis
TOP TIP!
To help you score high marks in Section E, refer to the SWOT Analysis guidance in Weekly Guide 5.
Remember! Your Strengths and Weaknesses are internal to your business and in the present.
Your Opportunities and Threats are external to your business and in the future.
5.
Complete the SWOT Analysis below. (5)
Strengths – What are your strengths?
-We can use the school store for marketing and
safe keeping of our products.
-Our kernel products are undiluted compared to
the ones in the market.
-We can speak in public and sell to people.
-We have enough palm kernels and cashew nut
available in our community as raw material.
Weaknesses – What are your weaknesses?
-We don’t know how to preserve the cashew nut
for a long period of time if there is low patronage.
-
Opportunities – What opportunities do you have?
-Our school is very close to the market so we can
Threats – Does your business face any threats?
-Our competitors are located in the main market
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distribute our products to retailers.
-Our local government shares a boundary with
another state that can serve as an opportunity for
business expansion.
-Our packaging and marketing strategy is the first
of its kind in this line of business.
-We can use the local radio station to market our
products.
- The price of our products is relatively cheap.
while our sales outlet is in the school premise.
-We don’t have delivery van in case of bulk
demand from retailers.
Section F: Operational Plan
6.
What steps will you take to start your business? Think about the one-off tasks you need to do to
actually get your business started.
- First, we will find suppliers of cashew nuts and palm kernel as our raw material in the community. -
We will use the gas cooker and frying pails in the school home economics department as our
start-up equipment.
- We will use the school empty store for storage and as distribution outlet .
-Setting up the financial system.
-Creating a mission statement.
-Forming the business team.
-Letting the people know that we have started the business. (5)
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7.
How will you produce or deliver your product or service? Use the table below to list the on going
tasks you need to do to make your business run. You can add rows if you need to. (5)
Task
How long?
How often?
Who?
What tasks need to be
How long will these
How often do these
Who will be responsible
done on a daily, weekly
tasks take?
tasks need to take
for these tasks? E.g.
or monthly basis to
place? E.g. Daily?
communications team
make your business
Weekly?
run?
1. We will buy raw cashew
nuts and palm kernel from
our local suppliers in the
community.
2 hour
Weekly
Managing director
2. Writing work
schedule for the team
member.
3.Washing cleaning
and drying the raw
materials
4. Processing the
product
5. Packaging and
labelling
6. Supplying the
products to retailers
in the community
market
7. Sales of product in
the school store
8. Counting and
recording of sales per
day
9. Take the profit to
the bank and obtain a
teller/receipt for the
deposit.
1 hour
Monthly
Company Secretary
5 hours
Weekly
Production team
4 hours
Weekly
Production team
3 hours
Weekly
Advertising team
2 hours
Weekly
Marketing team
6 hours
Daily
Marketing team
2 hours
Daily
Record Manager
2hours
Weekly
Accountant
8.
How is your business team structured? You may like to include your Organogram here.
From the organogram displayed below;
One student and the teacher in charge of the enterprise team are the managers, the business has
three managers under the managing director comprising of one student at each managerial level.
Two students as secretaries.
The sales, advertising department reports to the marketing manager and it comprises of thirty
students , the production team under the production manager comprises of forty students while only
two students handles the profit collection and recording of sales/products in stock. All financial
record from the record unit are forwarded to the accounting manager. The secretary takes minute
and records all proceedings/ communicate same to appropriate channels.
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OGBADIBO MODEL COLLEGE BUSINESS ORGANOGRAM
MANAGING DIRECTOR
1 Student and 1 Teacher
Marketing
production
Accounting
Secretaries
Manager
Manager
Manager
2 students
1 student
1 student
1 student
Sales/Advertising
Production team
Profit collection and record keeping.
30 students
40 students
2 students.
(5)
Section G: Marketing and Sales Plan
9.
Tell us about your 4 P’s (Product, Price, Place, Promotion). (10)
a) Product – What is your product?
Our products are fried cashew nuts and palm kernel oil. They are highly demanded in our community
and neighbouring communities. The nuts are chewed as food because of its high vitamin content , if
well packaged it is attractive. The kernel oil is used for the treatment of convultion in children locally,
it is also used as a raw material for local soap production. We chose the names “model cashew nuts”
and “model kernel Oil” as a brand name, with unique packaging system that will distinguish our
products from that of our competitors in other to maximise profit.
b) Price – What price will you sell it at?
We will sell our products for; $1 (one dollar) per packet of cashew nuts and $4 (four dollars) per one
point two (1.2 lt) liters of palm kernel oil. This price covers the cost, and it is relatively cheap
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compared with any other in ther community. It will also yield enough profit. The cashew product will
be packaged and labelled with our brand name, which is the first of its kind in the community. We
believe that this innovation will make it attractive to the customers who will be willing to pay a dollar
for a well packaged nut. The quantity of our kernel oil is being increased by 0.2 liters and it is sold for
$4 , while a liter is sold for $4 in the community and other surrounding communities. Our customers
will be willing to pay for a large quantity and qualitative oil at an affordable price.
c) Place – Where will you sell your product?
We intend to use the school store and a distributores store in the main market of our community as
the sales points for our products. This two sales points are very close to our customers. The store in
the school was given to the team free of charge and the store at the main market was offered
voluntarily by a parent who baught into the idea of encouraging the kids to learn enterprenuership.
We also offer whole sale and retail delvery system. Our business line is 08069731220, customers who
registered the addresses and phone numbers with us will be requested to place requisition through
text messages a day or 24 hours before the item is demanded for use so that the goods will be
delivered to them on whole sale. The products will be on sale from 8am -5pm Nigerian time on
Mondays to Saturdays.
d) Promotion – How will you promote your product? We will publicise our products by selling directly to
our customers on whole sale and retail prices at all the sales points. This will also include 3% discount
for multiple purchase if a customer buys a product that worths $250 two hundred and fifty dollars
above. A parent also offered to make free advertisement for us on radio once every week. We will
print and disribute flyers for door to door publicity.
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Section H: People, Profit, Planet
10.
How does your business meet the People, Profit and Planet criteria? Please give an example
for each criteria. Refer back to Question 7 in your Business Idea Template to help you. (6)

People – How will your business help the community?
-Part of the profit from the business will be used to sponsor/ pay the school fees of some girls in our
community who could not afford secondary education. This is in a bid to encourage girl child education
since it is highly discouraged in our community.
- The school fees of some of the orphans that live in our community, whose parents died as a result of
the resent insurgent attack on Nigeria will also be paid from our profits.
-The kernel oil is highly medicinal; it will be used for local treatment of convulsion in children and neck
pains in adults.

Profit – How will your business be profitable?
-Our packaging and branding system is the best and first of its kind in our community and its environs.
We believe that, if we maintain good quality with aggressive advertisement the business will yield
reasonable/ good profit. Our projected return on turnover is 110% of the capital invested.
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Planet – How will your business benefit the planet?
- We will use some of our profits to buy improved palm trees and cashew plants that will be used for
tree planting campaign to control erosion in some of the erosion prone parts of our local government.
Section I: Financing Strategy
11.
How much start-up capital do you need to start your business and how will you raise this money?
Refer back to Question 8 in your Business Idea Template to help you. (10)
We need $600 six hundred dollars start-up capital after much research and consultation.
We have one hundred students in our team. They all have broom making skills and have volunteerd
to contribute three brums per week for the period of eight weeks (two month). This will give us ywo
thousand four hundred brooms.
The brooms will be sold at the rate of fifty naira (#50) each, to some buyers that we have already
consulted. it will generate one hundred and twenty thousand naira ( #120,000) Nigerian currency.
A dollar equals two hundred naira. Therefore, our star- up capital equals $600 dollars.
Section J: Sustainability and Business Development
12.
How will you keep your business running after this school year?(5)
Every year, the board of directors will be changed by replacing the out going students with senior
secondary school two students. A new set of students will also be introduced to the business and the
enterprise group for mentoring in the business, so that they can take over the business.
We will keep researching and improving the quality of our product, so that we can build good
reputation before our customer.
13.
Where do you see the business in 5 years? We will plant improved varieties of palm trees and
cashew trees in our orchard to increase the supplies of our raw material with subsiquent reduction in
the cost of additional raw materials. We will expand our market by selling the products in two other
markets that share the borders with our local government. We will partner with some schools that
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develop interest in our products line to sell our products.
Appendix (OPTIONAL Bonus Points)
THE ATTACHED PICTURE SHOW SENIOR SECONDARY 2 STUDENTS APPOINTING THE ENTERPRISE EXECUTIVE
COMMITTEE MEMBERS BY CONDUCTING ELECTION FOR THE POSTS.
PART TWO
Financial Plan
This section will be awarded a total of 15 Points. These 15 Points will be allocated as follows:Section A (5), Section B+C+D (5), Section E+F (5), Section G+H
TOP TIP!
You may complete your Financial Plan using your local currency. Please tell us what this is, E.g. Indian
Rupees. In the template we will ask you to convert your TOTALS into US $. You can use this website to do
this: http://www.xe.com. Remember to write down the exchange rate you are using in the box below!
Please add any extra rows to the tables where necessary.
Local Currency used (E.g. Indian Rupees)
Nigerian Naira (# )
Exchange rate to US Dollars (E.g. 1 US $ = 59.7
Indian Rupees)
Period of time budgeted for (E.g. 3 months)
1 US Dollars = #200
2 Months
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Section A: Start-Up Budget (Estimated)
TOP TIP
Your Start-Up Budget is the costs of the Equipment and Supplies that you will need to start your business.
If you already have the products that you need to start up your business please list them here and put 0 as
the Unit cost.
1. Please list all your Start-Up Costs.
Start Up Equipment
Quantity
Unit Cost
FRYING PAILS
BASINS
LARGE TURNING FORKS
TARPOLINES
12KG GAS CYLINDER
ALUMINIUM SHOW GLASS CASE
3
6
10
2
2
2
#2000
#1000
#200
#1200
#8000
#6000
Start Up Supplies/Expenses
Quantity
Unit Costs
RAW CASHEW NUTS
PALM KERNEL
CALIBRATED 2LITER PLASTIC
JAR
PACKAGING NYLON
PRINTING OF LABELS
25 LITERS EMPTY PLASTIC JAR
TRANSPORT
PRINTING OF FLYERS/LETTERS
Total Start up Budget
(Add your Total Costs Together)
6 (100KG BAGS)
10 (50KG BAGS0
200
#5000
#3000
#25
Total Costs of your
Supplies/ Expenses
(Quantity x Unit Costs)
#30000
#30000
#5000
40 PACKETS
4000 PIECES
10
VARIOUS OCCATIONS
2000
#10
#0.625
#200
#50 PER TRIP
#0.85
Local Currency
#400
#2500
#2000
#4000
#1700
#120000
In US Dollars $
$600
Total Costs of your
Equipment (Quantity x
Unit Cost)
#6000
#6000
#2000
2400
#16000
#12000
……………………………………………………………………………………………………………………………………………………….
Section B: Income (Estimated)
2.
Please list all the products or services that your business will sell. Please tell us the amount you
think you will sell and the price at which you will sell them.
Name of Product or service
Quantity
Sales Price
Sales Income (Quantity
x Sales Price)
CASHEW NUTS
300 PACKETS
#200 PER PACKET
#60000
KERNEL OIL
240 LITERS
#800 PER 1.2 LITERS
#192000
Total Income
(Add all the ‘Sales Income’ together)
Local Currency
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#252000
In US Dollars $
$1260
Section C: Direct Costs (Estimated)
TOP TIP
Direct Costs refer to materials, labour and expenses related to the production of a specific product or service.
Don’t forget that the direct costs from your Start-Up Supplies/Expenses in Section A should be included here
too.
3.
Please list all of the items you will need to buy in order to make or provide each product or service.
Name of Item
Quantity
Unit Cost
Total Costs (Quantity x
Unit Cost)
Product/Service 1 Please tell us what this product or service is here:
LARGE FRYING PANS
3
#2000
BASINS
6
#1000
LARGE TURNING FORKS
10
#200
TARPOLINES
2
#1200
Product/Service 2 Please tell us what this product or service is here:
#6000
#6000
#2000
#2400
12KG GAS CYLINDER
2
#8000
1.5 LITER PLASTIC CONTAINER
200
#25
RAW CASHEW NUTS
6 (100KG BAGS)
#5000
PALM KERNELS (SHELLED)
10 (50KG BAGS)
#3000
EMPTY 25 LITERS PLASTIC
10
#200
GALLON
PACKAGING NYLON
40 PACKETS
#10
PRINTING OF STICKERS/LABELS 4000
#0.635
LABOUR
Product / Service 3 Please tell us what this product or service is here:
#16000
#5000
#30000
#30000
2000
#400
#2500
#0
Product/Service 4 Please tell us what this product or service is here:
Total Direct Costs
(Add up all the Total Costs)
Local Currency
#102300
In US Dollars $
511.50
Section D: Gross Profit (Estimated)
4.
Please calculate your Gross Profit in your Local Currency and then convert it to US Dollars $.
Calculation
Local Currency
US Dollars $
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Total Sales Income
Total Direct Costs
Gross Profit
(Total Sales Income – Total Direct Costs)
#252000
#102300
149700
$1260
$511.50
$748.50
Section E: Indirect Costs (Estimated)
Top Tip
Indirect costs are items that you need to spend money on to run your business. However, they are not
related to the making of your product or service. E.g. Marketing or transportation costs involved in getting
your product to market.
5. Please list all of your Indirect Costs.
Name of item
Quantity
PRINTING OF FLYERS AND
LETTERS
RADIO ADVERTISEMENT
ALLUMINIUM GLASS SHOW
CASE
TRANSPORTATION FOR
MARKETING
TRANSPORTATION FOR THE
PURCHASE OF RAW MATERIALS
Total Indirect Costs
(Add up all the Total Costs)
Unit Cost
2000
#0.85
Total Costs (Quantity x
Unit Cost)
#1700
ONCE A WEEK
2
#0
#6000
#0
#12000
4
#500
#2000
4
#500
#2000
Local Currency
#17700
In US Dollars $
$88.5
Section F: Net Profit (Estimated)
6.
Please calculate your Net Profit in your local currency and convert this to US Dollars.
Calculation
Local Currency
US Dollars $
Gross profit
#149700
$748.50
Total Indirect Costs
#17700
$88.50
Net Profit (Gross Profit – Total Indirect Costs)
132000
$660
Section G: Return on Investment (OPTIONAL)
7.
Please calculate your Return on Investment (Optional)
Net Profit
Total Start Up Budget
Net Profit / Start Up Budget x 100 = Return on
Investment (%)
$660
$600
110%
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Section H: Pay Back Period (OPTIONAL)
8.
Please calculate the Pay Back Period for your Start-Up Costs (Optional)
a.
Budget Period E.g. 4 months
b. How many months until you make your first
sales?
c.
Net Profit
d. Average Net Profit per month once sales have
started: c / (a – b)
e. Start Up Budget
f.
Pay Back Period: b + ( e / d)
2 MONTHS
1 MONTH
$660
$660
$600
1.909
Additional Comments: If you have any additional comments about your Financial Plan please put them in
here:
CONGRATULATIONS on writing your Business Plan! You have completed Stage 2! Submit NOW!
18
New Business Plan Template 2015